56
56
Feb 1, 2013
02/13
by
CSPAN2
tv
eye 56
favorite 0
quote 0
. >> whited lawmakers decided his best to delay the debt ceiling? >> about two weeks ago they tried in 2011 to use the debt and then as a leverage point to force obama to swallow spending cuts. it worked, but it is terribly damaging to the nation's economy and their political capital. with something like 90% in august of 2011 and they recognize this is a bad idea. thing is a pretty bad idea of a downgrade for the first time. they didn't want to do that again, but they didn't want to vote for a thicker national debt either. that doesn't care what their philosophy to pick them up with a strategy and in the meantime we want the senate to pass a budget for 2014 and the law says if either chamber fails a budget, paychecks will be docked. the whole idea is to postpone the economy default situation until the prosecutor at the continuing fight over taxes and then made to a point where both sides are satisfied in the debt limit can be raised again. >> how a template of a increasing the deficit in effect the economy and financial markets? >> where do you know
. >> whited lawmakers decided his best to delay the debt ceiling? >> about two weeks ago they tried in 2011 to use the debt and then as a leverage point to force obama to swallow spending cuts. it worked, but it is terribly damaging to the nation's economy and their political capital. with something like 90% in august of 2011 and they recognize this is a bad idea. thing is a pretty bad idea of a downgrade for the first time. they didn't want to do that again, but they didn't want to...
92
92
Feb 1, 2013
02/13
by
CSPAN2
tv
eye 92
favorite 0
quote 0
. >> why did lawmakers decide it was best to delay having to debate raising the debt ceiling? >> well, it was a decision by house republican leaders a few weeks ago. they tried in 2011 to use the debt limit as a lynch -- leverage point to force obama to swallow spending u cuts. it worked but -- [inaudible] to something like 9%. and they recognize that it was a bad idea. i mean, gambling with the credit of the united it turned out is a bad idea. we were downgraded for the first time in nation's history. they department want to do that again. like i said, i didn't want to vote for a bigger national debt either. that doesn't fit with their philosophy. they came up with the strategy of saying we're going us is fend. and in the meantime, they want the senate to pass a budget for 2014 and the law salses that -- says that if either chamber fails to adopt a budget by april 15, the paychecks will be docked. the idea of the thing is to postpone the sort of economy raddling default situation until they can prosecute the continuing fight over taxes and spending to a point where, you know,
. >> why did lawmakers decide it was best to delay having to debate raising the debt ceiling? >> well, it was a decision by house republican leaders a few weeks ago. they tried in 2011 to use the debt limit as a lynch -- leverage point to force obama to swallow spending u cuts. it worked but -- [inaudible] to something like 9%. and they recognize that it was a bad idea. i mean, gambling with the credit of the united it turned out is a bad idea. we were downgraded for the first time...
89
89
Jan 31, 2013
01/13
by
CSPAN2
tv
eye 89
favorite 0
quote 0
ceiling at some point. of course we're going to have to until we get to the point where we have balanced budgets and don't have to continue to run deficit spending. and by the way, i don't think that it's desirable or optimal to cross into that threshold where we are living under the rules of prioritization, because it's very disruptive to not be paying all the other bills on time, as we ought to. that's much better. but my point is there is something even more important here, and that is to fundamentally bring our spending and deficits under control. trillion-dollar deficits, a total debt that now exceeds the total economic output of our country. this is -- we have got a disastrous fiscal situation on our hands. it's right now costing us jobs, costing us economic growth today, and it's guaranteed to result in a full-blown fiscal crisis and a meltdown if we don't change the path we're on. the only time we have ever been able to persuade this president to agree to significant spending reductions was the last
ceiling at some point. of course we're going to have to until we get to the point where we have balanced budgets and don't have to continue to run deficit spending. and by the way, i don't think that it's desirable or optimal to cross into that threshold where we are living under the rules of prioritization, because it's very disruptive to not be paying all the other bills on time, as we ought to. that's much better. but my point is there is something even more important here, and that is to...
73
73
Jan 25, 2013
01/13
by
CSPAN2
tv
eye 73
favorite 0
quote 0
ceiling, any of the debt ceiling rate of points that have come up, those are negative in terms of increasing uncertainty. those are going to cause more hesitation in hiring. those are going to slow employment growth below what it would otherwise be, and those are not helpful to the economic recovery or, as you say, congressman, to the budget. >> so in essence, we're kind of kidding ourselves -- [laughter] about being able without creating jobs to solve economic problems, that just making decisions to shift thoughts and ideas and processes and at the end of the day there's still in more people working? >> you need an economic recovery, congressman, for everything else that you want to do, and that requires jobs to come back to where they were. we're still at least 3% below peak employment pre-financial crisis. this is the longest, worst recession in american history since the 1930s. >> thank you very much. thank you -- >> thank you. mr. griffin's recognized for five minutes. >> thank you, mr. chairman. thank you all for testifying today. i want to be really clear as well. i haven't heard any
ceiling, any of the debt ceiling rate of points that have come up, those are negative in terms of increasing uncertainty. those are going to cause more hesitation in hiring. those are going to slow employment growth below what it would otherwise be, and those are not helpful to the economic recovery or, as you say, congressman, to the budget. >> so in essence, we're kind of kidding ourselves -- [laughter] about being able without creating jobs to solve economic problems, that just making...
125
125
Jan 28, 2013
01/13
by
CSPAN2
tv
eye 125
favorite 0
quote 0
and we're not going to just keep raising the debt ceiling. we're going to make a down payment on debt reduction, and we're going to point the country in the right direction, we're going to cut spending. [applause] you know, there will be times p when conservatives disagree on the way forward. we've never marched in lockstep. that's not what we do. a healthy debate is a good and needed thing. we can deliberate in private without fighting in public. all we should ask of each other is that we give an honest account of our actions and their reasons for them. we should challenge the left, not each other. and if we take the prudent course, you know what? we'll be in really good company. our founders were men of prudence. take james madison. nowadays we call him the founder, the father of the constitution. but at the constitutional convention, he lost some key arguments. you know, he fought the plan to give each state the same number of seats in the senate. he thought it was deeply unjust. and at first he wants -- he wanted congress to be able to ve
and we're not going to just keep raising the debt ceiling. we're going to make a down payment on debt reduction, and we're going to point the country in the right direction, we're going to cut spending. [applause] you know, there will be times p when conservatives disagree on the way forward. we've never marched in lockstep. that's not what we do. a healthy debate is a good and needed thing. we can deliberate in private without fighting in public. all we should ask of each other is that we give...